OK SB1989

Expands contribution methods for Oklahoma College Savings Plan (529) accounts to include digital peer-to-peer payment networks and digital payment platforms, in addition to cash contributions

Updates statutory references by replacing "of the Internal Revenue Code" with direct citations to "26 U.S.C." and changing "this act" to "the Oklahoma College Savings Plan Act"

Maintains existing account structure including 60-day withdrawal notice requirement, up to 5% penalty on nonqualified withdrawals, and prohibition on using accounts as loan collateral

Effective date: November 1, 2026